OceanPal Inc (OP) has released an update.
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OceanPal Inc. has announced a significant partnership, entering a Support Agreement with Sphinx Investment Corp., which holds a 14.1% stake in the company. This Agreement resolves a proxy contest, with Sphinx withdrawing its shareholder proposals and pledging to support OceanPal’s Board and strategic direction, including voting commitments through 2029. OceanPal, a global shipping provider, expects its vessels to engage primarily in short-term charters post their current employment.
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